My other half has £5000 he would like to put into a savings account wheres the best place at the moment
or does anyone know of any savings comparrison sites that i can have a look at
2006-09-19 21:39:42 · 21 answers · asked by ♥Pink Princess♥ 3 in Business & Finance ➔ Personal Finance
No, do not go with other peoples views and ask your bank. They are the last people you should ask. They will invest your money in what makes them the most profit, not you. Even the so called Independant Financial Advisors are not always 'independant', as they get big kick backs from financial instituations.
I suggest putting some of that money in a Cash ISA. Look around to find the deal that best suits you.
I have always found this website useful:
http://www.moneysupermarket.com/
2006-09-19 21:53:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
A decent mutual fund will give you a higher yield than a savings account and will allow you to double your money 6 times faster than even the highest interest rate out there available in savings. With a good mutual fund the risks are minimal and it is exactly what the bank does with your money once you deposit it.
They invest in funds that average 12 - 18% and give you 1 - 3 % return on your money and keep the rest. Skip the middleman. I suggest speaking with a Primerica representative they are a citibank financial institution and can teach you alot about how to invest that money and make it work for you.
2006-09-19 21:52:45 · answer #2 · answered by morrigann_angelus 2 · 0⤊ 0⤋
I would put it into Premium Bonds. With that amount of money, you're almost certain to win something each year and probably more than the interest it would earn in a savings account. The winnings are tax free and the money can be taken out at any time without penalty.
2006-09-19 22:57:53 · answer #3 · answered by ChiangMai 3 · 0⤊ 0⤋
Yes, the best place is to look on moneysupermarket.com. I'd suggest a cash ISA to use up your £3,000 allowance per year. If you are prepared to take a risk, then you can consider equity ISAs for the balance otherwise, you can put the remaining £2K in an account that pays the highest interest outside of the ISA wrapper.
2006-09-22 02:35:15 · answer #4 · answered by scallywag 4 · 0⤊ 0⤋
i would go for an ISA, at least these are tax free, so our horrid government can not get their stinky hands on your savings. Talk to tour bank manager, or look at www.moneysupermarket.com for a comparrison.
2006-09-22 02:14:28 · answer #5 · answered by angel 2 · 0⤊ 0⤋
Bradford And Bingley Esavings
2016-12-17 16:01:37 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Bradford and Bingley are currently paying 5.1% on their esavings 2 account. I don't think you can beat that. A good site to check out is moneyfacts.co.uk.
Be sure to check the introductory bonus uplifts when checking out savings accounts.
2006-09-19 22:34:07 · answer #7 · answered by Jo C 2 · 0⤊ 0⤋
Get an ISA, that way its tax fee.
Or speak to an Independant Financial Adviser. If you go to your bank they can only recommend their own products. An IFA looks at all the different companies out there.
2006-09-19 21:43:06 · answer #8 · answered by OriginalBubble 6 · 0⤊ 0⤋
Sorry, but riskless and high return are mutually exclusive. The reason that investments provide high returns is because they are high risk, Low risk investments provide only low returns.. So you need to decide how much risk you can personally take and then you will find a risk relative to that.
2016-03-26 21:09:56 · answer #9 · answered by Anonymous · 0⤊ 0⤋
chat with your bank manager,or try a google search for the best kind of saving accounts.
2006-09-19 21:43:19 · answer #10 · answered by ♥Scottish♥Ƹ̵̡Ӝ̵̨̄Ʒ♥Fairy♥ 7 · 0⤊ 0⤋